Barings Corporate Investors (NYSE:MCI) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Barings Corporate Investors (NYSE:MCI) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $21.11 and traded as low as $20.30. Barings Corporate Investors shares last traded at $20.32, with a volume of 40,386 shares traded.

Barings Corporate Investors Trading Down 1.7%

The firm’s fifty day moving average is $21.11 and its 200 day moving average is $20.91.

Barings Corporate Investors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.9%.

Hedge Funds Weigh In On Barings Corporate Investors

Hedge funds have recently modified their holdings of the stock. Smith Asset Management Co. LLC acquired a new position in Barings Corporate Investors in the first quarter worth approximately $5,088,000. Janney Montgomery Scott LLC bought a new stake in Barings Corporate Investors in the first quarter worth approximately $2,330,000. Invesco Ltd. grew its position in Barings Corporate Investors by 39.1% in the first quarter. Invesco Ltd. now owns 235,814 shares of the financial services provider’s stock worth $5,527,000 after acquiring an additional 66,263 shares in the last quarter. BHK Investment Advisors LLC raised its holdings in shares of Barings Corporate Investors by 9.2% during the 2nd quarter. BHK Investment Advisors LLC now owns 362,189 shares of the financial services provider’s stock valued at $7,845,000 after purchasing an additional 30,439 shares in the last quarter. Finally, Round Rock Advisors LLC raised its holdings in shares of Barings Corporate Investors by 117.5% during the 1st quarter. Round Rock Advisors LLC now owns 40,979 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 22,141 shares in the last quarter.

About Barings Corporate Investors

Babson Capital Corporate Investors trust is a closed ended fixed income mutual fund launched and managed by Barings LLC. It invests in fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in a portfolio of privately placed, below-investment grade, long term corporate debt obligations.